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What exactly is Title Insurance?

Michael J. Lanza's avatar

Categories: Of Legal Interest Permalink

While a requirement by almost all lenders in a real estate closing, many consumers do not understand what it is and what it covers.


Our firm handles many real estate transactions for our clients and a lender requirement for just about any real estate purchase or refinance is that the client purchase title insurance.  The following is an abstract of an informational article published by CATIC,  New England’s largest domestic title insurance underwriter, and the company we use to provide title insurance to our clients.
Before the advent of title insurance as a commonplace part of the closing process, when a property owner or prospective property owner desired to obtain mortgage financing, among the processes put into motion was the search of the land records to determine the status of title to the premises to be mortgaged. This search was performed by a lawyer or other title searcher who would examine the chain of title by running each applicable name through the indices until all instruments comprising muniments of title were put together, along with other items, such as liens, etc., which might affect that title. Should this title searcher find a break… read more